Dantata Success: Claims verification commences for 4,160 ‘investors’

 

The Securities and Exchange Commission (SEC) has commenced the verification exercise for no fewer than 4,160 people who ‘invested’ their monies with Kano-based Dantata Success and Profitable Company.

The company has been involved in an unlawful solicitation of funds from the public with a promise of inexplicably high returns to investors.

SEC issued a July 15 circular to the investing public sequel to the appointment of joint Administrators/Trustees for Dantata Success and Profitable Company (DSPC) by the Commission pursuant to sections 13 and 173 of the Investment and Securities Act, and consequent upon an ex parte Order granted by the Federal High Court Kano.

Details of the verification timetable showed claims of about 478 unpaid ‘investors’ were verified on July 15, while that of about 780 was carried out on July 16. The daily exercise is from 9 am to 4 pm.

The venue of the exercise is Mambayya House, Aminu Kano Centre for Democratic Research and Training, Gwmmaja Gidan Mallam, Kano City

The verification of claims for additional 1,272 people is expected to be done from July 17 to 18; while from July 19-20, the exercise will cover 1,630 investors.

“All unpaid DSPC Scheme investors are necessarily advised to attend in person as attendance by proxy is not acceptable. Claimants must bring along the following documentary evidence/information for the verification exercise: All original documents and proof of evidence of investment in the illegal scheme including Bank Teller, Bank Deposit Slip, Bank Online Transfer Advice, Completed DSPC Investment Form, E-mail/WhatsApp Correspondence and DSPC Payment Receipt”, the circular reads.

The ‘investors’ are asked to also bring along any of the following acceptable means of identification of the claimant -National Identity Card, Driver’s License, Permanent Voters Card or International Passport), while the detail of Claimants’ Bank Account and Bank Verification Number (BVN) is also required.

SEC had on February 6, 2019, pursuant to its powers under section 13(w) of the Investments and Securities Act (ISA) 2007 sealed up the business premises of Dantata Success and Profitable Company (DSPC). The action taken by the Commission was with a view to protecting investors.